Terry Guo fights back on EU cartel fines

Editor: Anke Schröter

Terry Guo has spoken out against the massive fines imposed by the European Commission. South Korean and Taiwanese LCD manufacturers were fined a total of EUR 649 million as consequence of a price-fixing cartel.

The Taiwanese tycoon Terry Guo, who controls Chimei Innolux Corp ( which has been fined with a hefty EUR 300 million), has critisised the exemption of Samsung Electronics from the fines. He sees the South Korean company as the organiser of the cartel, accusing them of informing the EU investigators to get ahead of competition.

Terry Guo also stated that he is considering an appeal against the decision of the European Commission.